Bank of America drops on Treasury Fine, Bumble Jumps, Microsoft Gains | Stock Movers
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Today's biggest winners and losers in the stock market, a look at the notable movers: On this episode of Stock Movers: - Bank of America (BAC) was fined more than $1.21 billion for money laundering and sanctions violations by US regulators.The enforcement actions, announced by the Treasury Department, includes a record $750 million civil penalty from the Office of the Comptroller of the Currency, according to a statement Tuesday. Regulators also placed the bank under a consent order.Bank of America is scheduled to report third-quarter earnings before markets open Wednesday. The bank said it expects those results to include a $1.2 billion non-tax-deductible charge that will cut into net income by about 17 cents a share. -Bumble (BMBL) shares soar on news Ithaca is taking Bumble private for $1.3 billion, with a deal price of $6.05 per share. Bumble founder Whitney Wolfe Herd said she would “remain actively involved with Bumble” after the deal, which marks a significant change for the
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